Iraqi Ministry of Construction and Housing department has awarded a project to a couple of UAE based developers for the Iraqi reconstruction job. The agreement between the two concerned parties has been signed off recently. This agreement leads to a new hope to rejuvenate the recent war victimized country.
An Abu Dhabi based developer, named as Bloom Properties, along with Dubai's Damac Properties, which is another construction company have been awarded by this tender of reconstructing the country. This step signifies major redevelopment efforts by the Iraqi government. Along with the residential and business construction, these two companies will work on the reconstruction of schools, colleges and sports club of Iraq.
Damac is a well established company from Baghdad and it will cater top notch construction solutions for residential and commercial rebuilding of Iraq. It has already worked upon a number projects in Baghdad successfully and has a branch office at Baghdad too. On the sidelines of Cityscape Global 2012 in Dubai, the agreements were signed off.
According to Mr Muhammad Saheb Al Darraji Iraqi Minister of Construction and Housing, the Iraqi reconstruction process requires joint efforts, dynamic thoughts and energetic and long term sustainable visions. He also added that engaging Bloom will be fruitful as this company will be going to play a major role in Iraqi development, especially real estate sector of Iraq.
According to Mr Al Darraji the vision of Iraq in case of economic development has changed drastically. The fresh regulations and policies support rapid infrastructure and economic growth of the country.
Mr Simon Azzam CEO of Bloom Properties has depicted that this agreement is going to be a major expansion for Bloom as this has arrived in such a time when company was thinking of expansion and bigger projects. He pointed Iraq as one of their major destination and he believes that this agreement will serve the purposes of the both, Iraq, as well as Bloom Properties. He is confident to deliver high quality real estate growth in Iraq.
On the other hand, chairman of Damachas Mr Hussain Sajwani illustrated that by receiving this project Damac feels greatly honored and delighted as well. This agreement will surely bring growth and Damac will definitely provide luxurious and high standard real estate solutions in Iraq.
Source [Steel Guru]